Snap reports Q1 rev ~$1.53B (+12% YoY), adj EBITDA ~$233M; cuts 16% of staff (~1,000 jobs)

Snap Inc

Estimated Q1 2026 revenue $1.529B, up 12% YoY; adjusted EBITDA $233M.
Reducing global headcount by ~16% (~1,000 employees) and closing >300 open roles.
Expects pre-tax charges of $95M–$130M, majority in Q2 2026; cash spend $75M–$100M.
Annualized cost base reduction >$500M targeted by H2 2026 to accelerate path to net-income profitability.

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